M O N T A N A   L I V I N G
BOZEMAN • BIG SKY • LIVINGSTON • BILLINGS
 

June in Montana and We Are Open...

Summer is finally here! As we maneuver the do's and don'ts of reopening, the schedules for live music, art walks, Crazy Days, farmers' markets are also evolving. It's best to stay informed online where digital information can be updated daily.

The rivers are settling down as runoff is tapering. The fishing will make sense again soon, while non-fisherman will enjoy paddling and rafting the rivers. Camping and hiking season is also bear season.  ~ Be Bear Aware ~

ARTICLES OF INTEREST: {CLICK TO READ THE FULL ARTICLE}

7 Reasons Why Real Estate is a Safe, Stable, and Secure Investment

 


 

  

ENGEL & VÖLKERS

 
 
 
 

                     

M A R K E T  U P D A T E

May 2020
While the effects of COVID-19 in the broader economy continue, real estate activity is beginning to recover across much of the country. According to Freddie Mac, mortgage rates have been below 3.3 percent for more than four weeks and are hovering near all-time lows, spurring strong interest by buyers and lifting showing activity up 4% nationally versus a year ago in the final week of May.

Closed Sales decreased 33.0 percent for Single Family homes and 23.3 percent for Condo/Townhouse homes. Pending Sales increased 7.7 percent for Single Family homes and 55.6 percent for Condo/Townhouse homes. Inventory decreased 2.8 percent for Single Family homes but increased 22.0 percent for Condo/Townhouse homes.

The Median Sales Price increased 13.3 percent to $475,975 for Single Family homes but decreased 11.9 percent to $301,900 for Condo/Townhouse homes. Average days on Market decreased 20.3 percent for Single Family homes but increased 25.5 percent for Condo/Townhouse homes. Months Supply of Inventory increased 3.3 percent for Single Family homes and 10.8 percent for Condo/Townhouse homes.

Buyers have been quicker to return to the housing market in force than sellers, who have been showing a bit more reluctance to list their homes than is typical for this time of year. But trends are improving and as states and localities continue to moderate their COVID-19 policies, real estate activity is expected to continue to improve in the coming weeks.




   


 
                                                           
 
BOZEMAN |  BELGRADE  |  MANHATTAN  |  THREE FORKS  |  BIG SKY  |  BIG TIMBER | BILLINGS
EMIGRANT |  LIVINGSTON |  PARADISE VALLEY | GARDINER  | GALLATIN GATEWAY
                                                            


Engel & Völkers Bozeman



Engel & Völkers Montana
4064041960
bozeman@evrealestate.com
www.montana406.com
 

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